Contemporary Amperex Technology Co. Ltd. is guiding to price its Hong Kong share sale at the top end it had earlier indicated, according to people familiar with the matter, thanks to strong demand for the stock.
CATL, as the Chinese electric-vehicle battery maker is known, is indicating to price its shares at HK$263 apiece, the people said, asking not to be identified because the information isn’t public. That’s the maximum price it set when it started taking investor orders on Monday.
The company plans to stop taking investor orders on Wednesday, the people said.
CATL would be raising HK$31 billion ($4 billion) at that price based on the 118 million shares in the base offering. The company expects the shares to start trading on May 20.
Deliberations are ongoing and no final decisions have been made, the people said. A representative for CATL didn’t immediately respond to a request for comment.
CATL has powered through the share sale even with tensions between Beijing and Washington simmering in the background. A US congressional committee last month called on the two lead US banks working on the listing, Bank of America Corp. and JPMorgan Chase & Co., to withdraw from the deal, citing concerns including the blacklist. Both firms are still working on the transaction.
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